SMICs end for seven consecutive quarters of revenue growth

Affected by the industry cycle at the bottom, SMIC's fourth quarter revenue has achieved a 15 % decrease month -on -month, ending the growth of seven consecutive quarters.SMIC expects that revenue in the first quarter of 2023 will still decline.

Comprehensive Securities Times and Reuters reported that SMIC disclosed the fourth quarter of 2022 and annual results on the Hong Kong Stock Exchange on Thursday (February 9).The financial report shows that SMIC's fourth quarter revenue was 1.62 billion yuan (USD, the same below, about S $ 2.149 billion).The profit was 385.5 million yuan, which was higher than the estimated 310.3 million yuan.

In addition, SMIC's gross profit in the fourth quarter of 2022 was 518 million yuan, and the gross profit margin in the fourth quarter was 32%.

In 2022, the company's sales revenue was 7.273 billion yuan, an increase of 33.6%compared to the annual sales revenue of 5.443 billion yuan in 2021.This data is lower than the average expectations of US $ 7.35 billion in REFINITIV websites, and it is also lower than SMIC's prediction of about 7.3 billion yuan at the end of November last year.However, SMIC still achieves the annual increase of 2021 and 20122 for two consecutive years, and the gross interest rate increased to 38%in 2022, a record high.

However, SMIC's growth may reach peaks.With the retreat of the crown disease, the market's demand for electronic products is also weakening.

SMIC predicts in the financial report that the industry cycle in the first half of this year is still at the bottom, and the impact of external uncertain factors is still complicated. In the first quarter of this year, revenue is expected to decrease by 10%to 12%month -on -month.Interest rates are expected to fall between 19%and 21%; under the premise of relatively stable external environment, the company is expected to decrease a decrease of 10 digits year -on -year by 2023, and the gross profit margin is about 20%.

The financial report shows that although the company's capacity continued to rise in the fourth quarter of last year, the capacity utilization rate continued to decline.The company's capacity utilization rate fell from 92.1%in the third quarter of last year to 79.5%.

Reuters reports that in addition to weakening demand, the export control restriction released by the US Department of Commerce last October will further hinder the ambitions of SMIC's advanced chip.